How High-Tech industry can leverage AI for biz growth
Global businesses are increasingly adopting Artificial Intelligence (AI) to generate revenue and reduce costs. AI has now become the key business differentiator that is influencing how businesses and ecosystems are run. As per Mckinsey’s State of AI survey 2020, more than 50% of responders had already adopted AI in at least one business function. The high-tech industry, as a forerunner of digital adoption, is leading this trend as it tries to recover from the COVID-19 impact to businesses globally. But by combining AI, Machine Learning (ML), and predictive analytics, the industry can build new capabilities and take advantage of the changes in the marketplace to make significant inroads into untapped sectors. In this article, we’ll discuss how the High-Tech industry can leverage AI for business growth.
AI use cases:
Streaming services: The lockdowns and work from home left many with a considerable amount of free time. Streaming services and their binge able content came to our rescue. Netflix, Amazon, or Hulu – no matter your OTT of choice, what actually keeps us glued to our screens is their personalized recommendation engine powered by AI and ML. Segregating content by categories and suggesting newer content based on our viewing pattern, it makes our streaming experience enjoyable.
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